any good or service which people must have to be able to live.
What is needs?
100
farmer, fisher, minor
What are examples of a primary sector?
100
run by private individuals or groups &
run by the government
what is private sector vs public sector?
100
all the natural resources such as minerals, fields oil and forests.
What is land?
100
the value of all long term finance invested in a business.
What is capital employed?
200
any goods and services which people would like to have.
What is wants?
200
business activity that involves extracting natural resources from land or sea
What is primary sector?
200
taking the raw materials from the ground &
taking it & turning it to goods
What is primary vs secondary goods
200
the number of people available to work
What is labour?
200
money, materials, machines
give an example of capital employed
300
the goods which are sold to the public that they can see and touch
What is consumer goods?
300
business activity takes the natural resources and turns it into finished goods
What is secondary sector?
300
one owner easy to set up, owner keeps all profit , complete responsibility &
two or more owners, shared responsibility
What is sole trader vs partnership
300
machinery, equipment, and finance needed for production of goods and services
What is capital?
300
the revenue of business expressed as a percentage of total market revenue
What is market share?
400
products which are sold to other businesses to help in the production process. they are physical goods
What is capital goods?
400
construction, tailor
What are examples of secondary sector?
400
taking it & turning it to goods &
attracting the customers by product & selling it in the market
What is secondary vs teritary
400
people prepared to take the risk of setting up businesses, they are known as entrepreneurs
What is enterprise?
400
the number of people who work for you
What is number employees?
500
products sold to public, but cannot be seen or touched such as insurance
What is consumer services?
500
providing the services to the final consumer, some of them are shops, banks, cinemas and airlines
What is tertiary sector? and give some examples
500
1.land to raise the animals
2.people to raise the animals
3.machinery for cooking and money to open the business
4.adding value to the restaurant and making it fancy